Masoud Suleiman, Chairman of the National Oil Corporation (NOC), revealed that the cornerstone of the NOC’s vision for gas industry development projects centres on intensifying investment and establishing vital new projects. The aim is to secure supplies for the domestic market and meet its growing energy needs.
Speaking at the opening of the second technical workshop dedicated to discussing the "NOC’s Strategic Vision for Natural Gas Development Projects in Libya," he renewed the call for international companies to invest in this vital sector. He urged the formation of effective partnerships to boost onshore and offshore exploration and to convert resources into proven reserves. Such efforts would help create an attractive investment climate, facilitate knowledge transfer, and open new horizons for the local private sector and the national workforce, he added.
Emissions: a "near-zero flaring" target
He also reaffirmed the NOC’s continued commitment to international agreements on emissions reduction, highlighting the success of operational efforts to cut gas flaring. He noted ongoing collaboration with international partners to reach a "near-zero flaring" target, serving both national interests and mutual benefits.
He explained that this workshop was held following the success of the first edition and in response to expert recommendations, aiming to review the NOC’s plans for managing gas reserves estimated at approximately 53 trillion cubic feet.
The proceedings of the workshop’s second edition kicked off on Monday in Tripoli, attended by the Minister of Oil and Gas, Khalifa Abdel Sadig; members of the NOC’s Board of Directors; chairpersons of oil company boards; representatives of international companies; directors of relevant Corporation departments; and a group of distinguished international experts.
Serendipitous timing of conference following last Saturday’s power blackout
It must be noted that the timing of the conference can be deemed as serendipitous, coming on the back of the sudden power blackout last Saturday (18 July) which is partially attributed to the purported lack of gas supplies to power stations.
The blackout and the purported lack of gas supplies to power stations have initiated a public debate about reducing gas exports to Italy and prioritising developing gas discoveries and supplies to power stations.
Aware of this sometimes-angry debate, it is noted that Suleiman showed awareness of the public mood by stressing the export of only Libya's gas surplus.
